Fintech

The electronic-payments industry has come under unprecedented government scrutiny in the past 18 months, and it is unlikely to let up any time soon, contends a top official from the Electronic Transactions Association.

Uncertainty remains for clients of payments and banking software provider S1 Corp. despite its plan to stay the course on a proposed merger with Fundtech Ltd.

With 2.6 billion China UnionPay cardholders and 1.2 million Elavon Global Acquiring Solutions merchants worldwide, the math simply added up for an agreement that would enable Elavon merchants to accept UnionPay cards, an Elavon executive says.

A United Kingdom-based consumer-advocacy group once again is calling attention to card surcharges merchants add when consumers make credit and debit purchases online.

Digital payments have been the primary enabler of new financial services in Africa, as evidenced by the M-PESA-driven development of an entire financial ecosystem in Kenya. Further south, MTM MobileMoney has developed an electronic commerce payments system that enables debit payments, which should decrease seller discomfort with the credit-based digital commerce that has prevailed in that country.

GAINESVILLE, Fla. – Campus USA CU, the first credit union established on a U.S. college campus, has applied to state regulators to serve all 265,000 residents of nearby Leon County.

Heartland Payment Systems Inc. is prepared to pass along what it calls “Durbin Dollars” to its merchant clients.

One of the most significant challenges to widespread adoption of Near Field Communication-enabled mobile payments has been determining how the card brands, issuers, mobile operators and handset manufacturers will divvy up transaction revenues.

To help distribute its Serve digital payment and wallet service, American Express Co. on Aug. 1 announced a deal in which Verizon Wireless will integrate the platform into many of its mobile phones and tablets.

The roster of big banks using Fiserv Inc.’s online personal payments system is growing with the addition of BBVA Compass.